A coming surge in home sales by aging homeowners should boost local government property tax collections. These gains, however, are likely to be offset by an increase in the transfer of homes from parents to children which, unlike most home sales, does not trigger higher tax payments.

In response to questions received during a January Senate budget hearing, we examine California's General Fund tax expenditures: tax deductions, credits, exclusions, and the like that reduce revenues below what they would be otherwise.